PrimeXBT review
PrimeXBT is an offshore multi-asset trading platform launched in 2018, combining leveraged CFDs on crypto, forex, commodities, indices and equities with standalone crypto perpetual futures, all from one margin account, with leverage reaching up to 1000x on select instruments. It operates through offshore entities including Prime Technology Ltd (Seychelles) and a Saint Lucia IBC rather than a single disclosed headquarters, and is led by CEO Huw Davies. Its regulatory footprint is limited to secondary-tier licenses, South Africa's FSCA, a Seychelles broker-dealer license and El Salvador digital-asset licenses, rather than authorization from the FCA, SEC or ASIC. It is closed to US, Japanese and Canadian residents, and third-party review sites and consumer-complaint forums cite recurring withdrawal and account-access disputes.
PrimeXBT key facts
- Website: www.primexbt.com
- Category: Multi-asset leveraged CFD and crypto derivatives platform
- Founded: 2018
- Headquarters: No single disclosed HQ; Prime Technology Ltd (Seychelles) and a Saint Lucia IBC registration
- CEO: Huw Davies
- Regulatory status: FSCA (South Africa), broker-dealer license (Seychelles), digital-asset licenses (El Salvador); no FCA, SEC or ASIC authorization
- Products: Leveraged CFDs on crypto, forex, commodities, indices and equities; crypto perpetual futures; copy trading
- Leverage: Up to 1000x on select forex/commodities instruments; up to 500x on crypto per third-party reviews
- Supported assets: 300+ instruments: roughly 135 cryptocurrencies, 99 forex pairs, 24 commodities, 19 indices, 16 stocks
- FYI Score: 79.4/100 (ranked #23 of the 48 crypto exchanges we track)
Trading fees
- Crypto perpetual futures charge maker fees from about 0.01% and taker fees from about 0.02%, tiered by volume
- Forex, commodities, indices and equity CFDs are commission-free and priced through the spread; EUR/USD spreads run roughly 0.6-0.9 pips
- Overnight swap fees apply on CFD positions held past a daily cutoff, tripled on Wednesdays to account for the weekend
- Funding is charged every 8 hours on open crypto futures positions
Supported assets and products
- 300+ instruments in one account: roughly 135 cryptocurrencies, 99 forex pairs, 24 commodities, 19 indices and 16 stocks
- Crypto perpetual futures with leverage up to 500x; forex and commodity CFDs up to 1000x on select instruments
- Built-in copy trading lets users mirror other traders' positions for a share of the profits
- $10,000 virtual-fund demo account for practice trading
Security and regulation
- Digital asset custody through Fireblocks, with cold storage and multisignature wallets for the bulk of crypto holdings
- Segregates client funds from corporate funds and offers negative balance protection
- Licensed only in secondary jurisdictions: South Africa's FSCA, a Seychelles broker-dealer license, and El Salvador digital-asset licenses; no FCA, SEC, ASIC or CySEC authorization
- Blocked for US, Japanese and Canadian residents, among other restricted jurisdictions
Platforms and support
- Proprietary PXTrader web platform plus MetaTrader 5 support
- iOS and Android apps, rated around 4.3-4.6 stars on their respective app stores
- 24/7 customer support, with a self-reported average response time under 40 seconds
- 100+ deposit and withdrawal payment methods; withdrawal fees vary by processor, from a minimum of about $0.50
Markets
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Who PrimeXBT is for
PrimeXBT suits traders who specifically want high leverage across crypto and traditional markets from one account and who accept the regulatory and counterparty risk of an offshore, non-Tier-1-licensed platform. It is not usable by US, Japanese or Canadian residents.
Pros
- Wide range of instruments in a single margin account, spanning crypto, forex, commodities, indices and equities
- Commission-free, spread-based pricing on non-crypto assets, with competitive spreads on several major instruments
- Fireblocks-backed custody and cold storage for digital assets, plus segregated client funds
- High leverage available, up to 1000x on select instruments, for traders who specifically want it
Cons
- No Tier-1 regulatory oversight; relies on secondary licenses from South Africa, Seychelles and El Salvador rather than the FCA, SEC or ASIC
- No single disclosed headquarters and limited public information on management beyond CEO Huw Davies
- Consumer-complaint and broker-watchdog sites cite recurring reports of withdrawal denials and account lockouts
- Very high leverage magnifies loss risk, particularly for less experienced traders
PrimeXBT FAQ
Is PrimeXBT regulated?
Only by secondary-tier regulators: South Africa's FSCA, a Seychelles broker-dealer license, and digital-asset licenses in El Salvador. It holds no authorization from the FCA, SEC, ASIC or CySEC.
What kind of platform is PrimeXBT?
It is a leveraged CFD and crypto-derivatives platform, not a plain spot exchange. Users trade crypto, forex, commodities, indices and equities on margin, alongside standalone crypto perpetual futures, from a single account.
What leverage does PrimeXBT offer?
Up to 1000x on select forex and commodity instruments, and up to 500x on crypto, according to third-party broker reviews.
Are there complaints about PrimeXBT?
Yes. Independent broker-review and consumer-complaint sites cite recurring reports of withdrawal denials and account-access lockouts, alongside the platform's lack of Tier-1 regulatory oversight.
Compare PrimeXBT with other crypto exchanges
See all crypto exchanges ranked by FYI →
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